Page 1570 - Business Finance
IMC Advisory Announces the Opening of its Singapore Office
/ -- IMC, a leading cross-border advisory firm, has recently announced its presence in Singapore, the global business hub, with a new branch at Raffles Place in Singapore. Singapore has retained its top spot as Asia's preferred business expansion destination and a reputed financial trading centre as per recent surveys. This full-service branch will provide end-to-end advisory services and professional assistance in Singapore. "The opening of this branch is in response to the robust demand we have observed for IMC's services in Singapore and proves our commitment to various global organizations in Singapore. We all know that Singapore is a thriving and innovative business destination and today, it has built a unique position in the global economy. It boasts of developed infrastructure, open business policies, political stability and a skilled workforce. It is beneficial for international businesses to set up their headquarters in Singapore because of its strong trade and investment ...
'Pepperfry Bespoke' launched to offer end-to-end home interior
Furniture and home products marketplace, Pepperfry Thursday announced the launch of its new venture 'Pepperfry Bespoke', saying it aims to tap the US Dollar 8 billion opportunity in the home decor segment. Set up to provide an end-to-end home interior design solution services, Pepperfry Bespoke aims at achieving a business of Rs 350 crore gross merchandise volume by March next year, the company Chief Operating Officer and founder of Pepperfry Ashish Shah told reporters here. "New homes and home renovation is a USD 8 billion opportunity. As a leader in home and furniture segment with a strong online and offline presence, it was only natural to extend the pepperfry offering to include end-to-end home interior design and build services for our customers," he said. Pepperfry Bespoke's services include free interior design solutions by experts, 3D visualisation, space optimisation, budget planning, false ceiling, plumbing, civil work, modular solutions, painting and ...
Gold prices flat as dollar steadies, equities tick up
BENGALURU (Reuters) - Gold was little changed on Thursday as the dollar steadied and equities climbed on signs of easing trade tensions between the United States and China, while palladium rose to a record high, trading at a premium to the bullion.
China's Vivo buys 169 acres land, to invest $559 million in India
MUMBAI (Reuters) - Chinese smartphone maker Vivo on Thursday said it has acquired 169 acres of land in Uttar Pradesh and will spend 40 billion rupees ($559 million) to set up its second local plant in India.
Recorded music licence fee collection up 30%: PPL
Music licensing company PPL has said its revenue has registered a 30 per cent increase in the first half of this fiscal due to expanded membership base resulting in increased number of songs for licensing, rationalisation of licence fees, and effective copyright protection measures.
MEA stepped up efforts to address trade related issues of textiles industry: Irani
Textiles Minister Smriti Irani Thursday said the External Affairs Ministry has stepped up efforts to help the domestic industry facing trade-related challenges, including non-compliance of treaties by certain countries. While addressing a CII conference here, the minister said the domestic market also holds enormous potential for textiles industry. The minister said she has brought to notice of the External Affairs Ministry certain issues that the industry has raised with regards to challenges and non-compliance of treaties by some nations. "We have been extremely grateful that the MEA has also stepped up and put in its own efforts to bring resolutions for the industry," Irani said. She, however, did not elaborate. The minister also stressed that the government recognises the need to have a WTO-compliant structure where the industry can be supported by it. "...we are currently working on it but since Parliament is in session, I am not in a position to give an active comment on it," ...
Quick Wrap: Nifty Realty Index rises 1.37%
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Turnover in F&O segment jumps
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Import Of Vegetable Oils Falls 9% In November
As per the latest data compiled by Solvent Extractors' Association of India (SEA OF India), the import of vegetable oils during November 2018 is reported at 1,133,893 tons compared to 1,256,433 tons in October 2018 and 1,248,810 tons in November, 2017, i.e. down by 9%.
Yamaha India launches Saluto, Saluto RX equipped with advanced braking system
India Yamaha Motor (IYM) Thursday launched its two mass market bike models, Saluto and Saluto RX, equipped with an advanced braking system priced between at Rs 52,000 and Rs 61,500 (ex-showroom Delhi). The Saluto (125 cc) featuring unified braking system (UBS) will be available in both drum and disc brake variants priced between Rs 58,800 and Rs 61,500, IYM said in a statement. The UBS equipped Saluto RX (110cc) will be available only in drum brake version priced at Rs 52,000 and Rs 53,000 depending on colour options. The new UBS is a new age braking concept from Yamaha that supports partial application of front brake simultaneously when the rear brake is applied completely, the company said. It offers improved braking controls due to intensification of braking force, it added. Commenting on the launch, Yamaha Motor India group of companies Chairman Motofumi Shitara said the company's approach has been to continually innovate its products in order to have a strong connect with the ...
Bandhan Bank jumps over 6 pc on RBI's approval to open new branches
Shares of Bandhan Bank jumped over 6 per cent Thursday after the Reserve Bank allowed the private bank to open new branches. The stocks of the Kolkata-based bank opened on a bullish note and gained 5.99 per cent to end at Rs 501.70 on the BSE, after touching a high of Rs 514.50 during the intra-day trade. Similarly, on NSE the stock rose 6.79 per cent to close at Rs 504. In intra-day trade, the scrip touched high of Rs 514.80. In terms of volume, a total of 27.63 lakh units were traded on the NSE, while over 2.19 lakh shares changed hands on the BSE. On Wednesday, the bank's chief executive C S Ghosh said the bank would add another 40 branches by December 31, thereby taking the total number to 978 after the prior approval from RBI. The Reserve Bank of India had earlier imposed restrictions on Bandhan Bank's branch expansion, after it failed to pare promoters' stake to 40 per cent from close to 82 per cent, within the stipulated three-year time frame.
Sun Pharma declines over 2 pc as Sebi examines whistleblower complaint
Shares of Sun Pharmaceutical slipped over 2 per cent Thursday, a day after markets regulator Sebi said it was examining the whistleblower complaint against the company. The stock dropped 2.12 per cent to settle at Rs 422.15 on the BSE. During the trading session, the scrip touched a low of Rs 418, a decline of 3.08 per cent. On the NSE, the stock fell 2.19 per cent to Rs 422 from the previous close. It had touched a low of Rs 418, down 3.11 per cent, during the trading session. In terms of equity volume, over 13 lakh shares were traded on the BSE, while over 1.6 crore units changed hands on the NSE. When asked about the whistleblower complaint against Sun Pharma, Sebi Chairman Ajay Tyagi on Wednesday said, "There is a whistleblower complaint which we are examining. I have nothing more to add." A whistleblower had last month approached Sebi with a document alleging various irregularities by the company, its Promoter Dilip Shanghvi and others. Shanghvi, who is also the managing director
Candidate for chairman post finalised, name to be sent to RBI for approval: Yes Bank
Yes Bank Thursday said it has finalised a candidate for the position of chairman and would be seeking approval from the Reserve Bank of India. The move was necessitated following the resignation of Ashok Chawla from the post last month. The bank, however, did not disclose the candidate's name. On the appointment of new MD and CEO, the bank said the 'Search & Selection Committee' (SSC) and the board are "on track" to complete the process within the stipulated timeline given by the RBI. The recommendation in this regard will be submitted to the RBI post January 9, 2019, it added. In September, the RBI decided against extending Rana Kapoor's term as MD and CEO beyond January 31, 2019 and asked the bank to find a replacement. "The Bank's Nomination & Remuneration Committee (N&RC) and Board of Directors have finalised the recommendation for Non-Executive Part-Time Chairman position and shall be promptly seeking requisite approvals from the Reserve Bank of India," Yes Bank said .
IRDAI to tweak capital norms for insurance firms
Insurance sector regulator IRDAI was in the process of tweaking the capital requirements norms for insurance companies, an official said Thursday. "In India the capital requirement at present is Rs 100 crore, which is quite high as compared to advanced nations", Nilesh Sathe, Member (Life), Insurance Regulatory Development Authority of India (IRDAI) said. By 2021 or 2022, this amount would be changed so that many aspirants could join the insurance sector, he told reporters on the sidelines of MCCI seminar here on Thursday. These firms also did not need to offer a plethora of products but could stick to select ones, he viewed. Sathe also said he was in line with the banking sector requirements to bring down promoters' capital leading to listing of the insurance firms. According to him, term policies in India were driven by the private sector unlike the LIC, adding India still provided big scope for insurance penetration and increase in density of insured persons.
Panasonic eyes 10pc share of handheld Toughpad market in 4 yrs
Japanese consumer electronics maker Panasonic Thursday forayed into the handheld Toughpad segment with an aim to corner 10 per cent market share in 3-4 years, through its Toughbook series. "We are aiming to have around 10 per cent market share in the segment through our handheld Toughbook in next 3-4 years," Panasonic National Business Head-Toughbook Gunjan Sachdev told PTI. The company is eyeing opportunities in warehousing, e-commerce, and logistics market through its handheld Toughbook. Panasonic is already a market leader in the Toughpad segment in India. At present, the handheld rugged devices market is estimated at Rs 250 crore in India. Panasonic would be competing with makers such as Honeywell and Zebra which are growing annually around 15 per cent. "Our newest offering...further assists consumers with their enterprise based working environment by robustly assisting them to augment their efficiency levels through the unique blend of characteristics offered by Toughbook," said
Optical retailer Vision Express launches 16th store in Delhi
Vision Express, India's leading optical retail chain has launched its 170th store located at Paschim Vihar in New Delhi.Spread over an area of 600 sq ft, the latest retail outlet was inaugurated by Gurpreet Singh Bhatia, CEO, Reliance Vision Express. With the launch of the new store in Paschim Vihar, the total count of Vision Express stores in Delhi reaches 16.The latest store offers the signature Vision Express experience to its customers. It houses the contemporary eyewear collection and modish sunglass designs to attract the fashion frenzy millennials in Delhi."With the launch of our 16th store in the region, we are expanding our reach in Delhi. Our rapidly growing presence is being well received across the country and the increasing love that our brand is earning keeps us motivated to serve better," said Gurpreet Singh Bhatia, CEO, Reliance Vision Express.
TVS Motor rolls out 50,000th unit of BMW 310cc
: Two- and three-wheeler maker TVS Motor rolled out its 50,000th unit of the BMW G310 cc motorcycle from its manufacturing facility in Hosur Thursday. A red colour variant of the premium motorcycle G310 was unveiled in the presence of director and chief executive officer of TVS Motor K N Radhakrishnan and head of BMW Motorrad Dr Markus Schramm. In April 2013, TVS Motor and BMW Motorrad had signed a partnership to produce sub-500 cc motorcycles for the global markets. Under the partnership, the company launched three products - BMW G310R, BMW 310GS and TVS Apache RR310. "Today, (it) is a significant milestone in our journey with BMW Motorrad. Over the course of this six-year partnership, we have had an opportunity to create a common learning platform for both the companies...," Radhakrishnan said. "It is heartening to see foray of BMW into sub-500cc segment meet with positive response across the globe. We are delighted to be a part of this success story," he said. Schramm
Comviva Launches Next-gen Digital Services Delivery Platform DSDP 2.0 for Operators
/ -- Empowered with Artificial Intelligence capabilities Enabling operators to embrace new opportunities for growth in digital services Provides micro services and cloud ready multi-tenant based architecture Comviva, the global leader in providing mobility solutions, today announced a new version of its Digital Services Delivery Platform (DSDP 2.0), empowering mobile operators to move beyond mere connectivity and embrace new growth opportunities in digital services. (Logo: https://mma.prnewswire.com/media/721519/Comviva_Logo.jpg ) With increasing digitization, many service providers are in the driver's seat in terms of value creation, as it has allowed them to become true enablers of digital experience by facilitating digital services of their partners. And, as this transformation gathers speed, a centralized strategy will ensure that the transition from physical to digital services results in increased efficiency and more revenue opportunities for the operator. DSDP 2.0 has been ...
Housing sales may rise 16 pc in 2018; new supply up 32 pc: Anarock
Housing sales are estimated to rise by 16 per cent this year at 2.45 lakh units in seven major cities on better demand for affordable homes, property consultant Anarock said in a report. During 2018, housing supply rose by 32 per cent to 1.93 lakh units in the seven cities -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad and Pune. "The fallout of RERA and GST was still very visible in 2018, but the dust began to settle. With developers and brokers accepting the new market realities and beginning to fall in line, the residential sector began to regain visibility and viability," Anarock founder and chairman Anuj Puri said. "Transparency and accountability never the defining characteristics of Indian real estate became the 'new normal' this year, and the market reacted positively," he said. As per the data, the new launch supply across top seven cities is estimated to be 1,93,600 units by the end of 2018, up 32 per cent from 1,46,850 units in 2017. Affordable housing ...
Gold sheds Rs 320 on low demand, silver up
Gold prices Thursday fell by Rs 320 to close at Rs 32,220 per 10 gram at the bullion market here on sluggish demand from local jewellers amid weak global cues. Silver, however, gained Rs 250 to Rs 38,800 per kg on strong demand from industrial units and coin makers. Traders said low demand from jewellers and weak global cues exerted pressure on the gold prices. In the national capital, gold of 99.9 per cent and 99.5 per cent purities fell by Rs 320 each to Rs 32,220 and Rs 32,070 per 10 gram, respectively. Sovereign gold, however, held steady at Rs 25,000 per piece of 8 gram. Globally, gold traded at USD 1,245.64 an ounce in New York, while silver stood at USD 14.71 an ounce. Silver ready surged by Rs 250 to Rs 38,800 per kg, while weekly-based delivery was up by Rs 170 to Rs 38,351 per kg. Besides, silver coins remained unchanged at Rs 74,000 for buying and Rs 75,000 for selling of 100 pieces.